|
Alex Gavrish Benedicte Gravrand, Opalesque Geneva: Story Investing, Alex Gavrish’s latest book, is a reflection on the storytelling part of investment theses. Investing in a shoe retailer, for example, is not just about the current and projected sales figures, profits and losses, etc. It is also about the retailer’s history, its trials and errors, twists and turns, the mountains it climbed, the victories it celebrated, the falls it recovered from, its brave leaders and its bad leaders, the motives behind its corporate moves, its hopes and ambitions, and its standing in the world of shoe retailing as well as the broader world of fashion.
We automatically link facts and events to make sense of them, somehow, and this often leads to the ominous act of "jumping to conclusions." But give us a good narrative, with a good structure, that does the linking of facts of events so well that gives it proper meaning, and it will stick in our mind forever.
Appealing to the creative part of investors’ mind, Gavrish exposes in this short book (120 pages) the indispensable art of storytelling in investment practice. A story well told helps others – and the authors – better understand the investment case, he says, quoting from the likes of Warren Buffet, Seth Klarman, George Soros, Daniel Loeb, David Einhorn and Bill Ackman, all superior crafters of investor letters.
Gavrish, the Ukrainian-...................... To view our full article Click here
|